🧪 Real experiment🧪 Real experiment
This past month, I've been doing a small experiment with a card that offers cashback in Bitcoin (BTC). The interesting thing about this card is that, although it's a credit card, it works like a debit card: you have to deposit funds to spend.
I took advantage of my mother-in-law's visit from Cuba and was making several purchases to take back to Cuba. I made all those purchases using this card with BTC cashback.
💳 Experiment Details💳 Experiment Details
💰 In total, I deposited and spent around R$2,470 (about 440-450 USD) throughout the month.
📈 And how much cashback did we earn?📈 And how much cashback did we earn?
About 4,864 satoshis, which is equivalent to approximately R$29 or about 5 USD at current market value.
⚠️ Can that BTC be withdrawn?⚠️ Can that BTC be withdrawn?
Not so easy. To withdraw the accumulated BTC:
The minimum withdrawal is 0.0005 BTC
The fee on the slow network is 0.00005 BTC
In short: you can't withdraw that balance yet, but it's accumulating little by little.
🧠 Is it worth it?🧠 Is it worth it?
In the short term, the cashback isn't impressive.
But if you look at it with a long-term accumulation mindset, I think it has potential.
You're earning satoshis for purchases you were going to make anyway.
🕵️♂️ What about privacy?🕵️♂️ What about privacy?
That's a different topic...
Removing the sats and cleaning up the trail is an additional challenge, but I'll leave that for another conversation 😅
What do you think? Do you find it interesting to take advantage of this type of BTC cashback, even if it's small, to accumulate over the long term?
🎁 Were you interested in the experiment?🎁 Were you interested in the experiment?
If you live in Brazil and want to try this card, you can create your BityBank account using my link:
👉 https://bity.com.br/mgm/757525
This way, everyone wins: you start accumulating SATs, and I feel useful for having convinced someone other than my mother-in-law 😎
there's a chrome plug-in/site called Satsback that I've used a few times. Gives you some similar, select, affiliate-marketing type cashback -- instantly withdrawable over Lightning.
These efforts are rarely worth it, mostly just a waste of your time and cognitive effort
edit: apparently they've even AMA'd on Stacker
#79705
Interesting, I didn't know that tool existed. I was just checking it out and it really does have a lot of stores, except for Brazil, where I'm living, it has very few and they're not frequently used. Most of them are for travel or VPNs.
Hahaha
kkkkkkk...literally!!!!
I think anything to increase Bitcoin adoption is good. I hope to see more and more of these bridges from fiat to Bitcoin.